Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0094%/8h= +10.3% APRpaid last 24h +0.016%

Price spread now: OKX against gTrade (Gains Network)−0.044%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on gTrade (Gains Network)Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. OKX is 0.044% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.044% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 38 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) ICP/USD	2.9643	L +0.0006% / S −0.0011%	pay 0.0001% / 1h	3m 21s	$22K	—	150x
Short	OKX ICP-USDT-SWAP	2.9630	0.0100	get 0.0100% / 8h	5h 03m	$5.7M	$16.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against gTrade (Gains Network). Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee gTrade (Gains Network)bpFee OKXbpOrdersPrice spread, now −0.044%Rate

Funding earned: $19.67
Price spread: −0.044% → 0.000%: −$4.42
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$4.75
Costs to cover: 0.200%
Break-even: 8.7 days

Slippage unknown: gTrade (Gains Network): no order-book sample; OKX: live order book, 5 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell OKX live order book, 5 min ago	1.68 bp	13.9 bp −$14	39.8 bp −$398	doesn't fit	doesn't fit

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

ICP on 27 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX ICP-USD	0.0000%	1h	2.9624	−0.063%	$69K	$3K	5x	as long as short
Deribit ICP_USDC-PERPETUAL	0.0000%	1h	2.9644	+0.003%	$264	$464	50x	as long as short
gTrade (Gains Network) ICP/USDlong	L +0.0006% / S −0.0011%	1h	2.9643	long leg	$22K	—	150x
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	+0.074%	$202	$200K	12x	as long as short
Variational Omni ICP	+0.0086%	8h	2.9579	−0.215%	$1.1M	$116K	—	as long as short
Lighter ICP	+0.0096%	1h	2.9663	+0.067%	$158K	$487K	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9632	−0.036%	$272K	$1.7M	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9602	−0.139%	$134K	$10K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9649	+0.019%	$29.2M	$53.1M	75x	as long as short
Bybit ICPUSDT	+0.0100%	8h	2.9630	−0.044%	$17.2M	$18.8M	75x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ICP-USDT-SWAPshort	+0.0100%	8h	2.9630	−0.044%	$5.7M	$16.8M	50x
Gate ICP_USDT	+0.0100%	8h	2.9630	−0.044%	$1.9M	$3.2M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9630	−0.044%	$19.7M	$10.3M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9630	−0.044%	$4.8M	$13.1M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9630	−0.044%	$7.0M	$4.9M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9640	−0.010%	—	$5.8M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9597	−0.154%	$23K	$280K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9602	−0.138%	$562K	$483K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9640	−0.010%	$2K	$1.7M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9600	−0.145%	$104K	$181K	20x	as long as short
Phemex ICPUSDT	+0.0100%	8h	2.9630	−0.044%	$1.8M	$794K	50x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9625	−0.060%	$23K	$122K	10x	as long as short
Hyperliquid ICP	+0.0135%	1h	2.9678	+0.118%	$4.6M	$5.0M	5x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9650	+0.023%	$1.3M	$2.2M	75x	as long as short
Kraken Futures PF_ICPUSD	+0.0296%	1h	2.9657	+0.047%	$523K	$642K	50x	as long as short
Coinbase International ICP-PERP-INTX	+0.0320%	1h	2.9700	+0.192%	$67K	$68K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0504% / S −0.0480%	1h	2.9639	−0.014%	$37K	—	100x	as long as short